Financial services are economic services provided by the finance industry, which encompasses a broad range of professional firms that manage money, including banks; depository institutions such as credit unions and savings and loans associations; mortgage bankers and companies; insurance and pension funds; and other specialized financial intermediation firms. The sector also includes debt resolution services, global payment providers such as Visa and Mastercard; and exchanges that facilitate stock, derivatives and commodity trades.
The wide array of career paths within the financial services industry can make it difficult to narrow down your options. However, it’s worth remembering that financial services jobs pay a lot more than the average profession—and the pay is generally stable. Additionally, many roles offer a work/life balance that’s pretty balanced. You’ll likely be able to advance quickly, too. This is because most firms are known for promoting from within based on aptitude, rather than tenure.
A healthy financial services industry helps people put their money to good use. They can get loans to buy homes, cars and other necessities, save for retirement or college education with investments, and secure their health, wealth and property with insurance policies. And a strong financial services sector allows businesses to grow and expand, creating more jobs along the way.